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It seems to have constituted almost the whole circulation of that

country; for though the circulation of the Bank of Scotland,

which had then no rival, was considerable, it seems to have made

but a very small part of the whole. In the present times, the

whole circulation of Scotland cannot be estimated at less than

two millions, of which that part which consists in gold and

silver, most probably, does not amount to half a million. But

though the circulating gold and silver of Scotland have suffered

so great a diminution during this period, its real riches and

prosperity do not appear to have suffered any. Its agriculture,

manufactures, and trade, on the contrary, the annual produce of

its land and labour, have evidently been augmented.